Owen burst onto the football scene as a teenager at Liverpool and was the star of England's World Cup team in 1998. He scored against Romania in a group game before his stunning solo effort against Argentina. England lost the game on penalties but Owen's reputation soared.

Owen had a successful career with Liverpool before moving to Spanish club Real Madrid in 2004. He scored 14 goals in 40 games before returning to England with Newcastle in August 2005, and also played for Manchester United and Stoke.

Owen shows CNN's Amanda Davies around his stables, which are home to 90 horses and boast an equine pool and vet center.

Owen was introduced to racing by his father Terry, who used to let him pick which horses to back as a child.

Despite his racing interests, Owen says football is still his main passion -- he stays involved by working as a media analyst, among other roles.

It's 16 years since a teenage Owen slalomed his way through the Argentina defense to announce himself as England's brightest superstar at France '98.

Now he is cantering to success with his own horse stables -- not that it comes close to emulating the feeling of a sweetly struck goal.

"The surge of emotion and adrenaline of scoring a goal can never be matched, no matter what you do," Owen told CNN's Winning Post show.

"This is a weird type of feeling. It's a feeling of emptiness when you say cheerio to the horse and jockey down at the start and you've just got no control over anything."

As a striker, even if you are part of an 11-man team, your fate is very much in your own hands -- or rather feet -- and you're judged by the number of goals you score.

But as a racehorse owner, Owen's success or failure is governed by a whole new range of emotions.

"With football you always feel in control. On the pitch, you can always do something to make something happen. Your destiny is in your hands in many ways," he says.

Family rivalry fuels royal horsing empire

Is this Qatar's first superstar jockey?

"But with racing there's none of that. It's just a real emptiness."

Except when your horse passes the winning post.

"You're just sitting there hoping ... but when one of your horses crosses the line in front it's a great feeling and a great adrenaline rush. Not quite that of scoring a goal, but it comes close."

Owen retired from football in March 2013 following an illustrious career in which he played for several of Europe's top clubs and scored 40 goals in 89 international appearances for England.

After starting his career at Liverpool, where he scored 158 goals in 297 games, Owen went on to play for Real Madrid, Newcastle, Manchester United and Stoke City.

Named European Footballer of the Year in 2001, his pace and predatory instincts made him one of the most prolific strikers in the game before a succession of injuries took their toll.

But horse racing always provided a much-needed escape from the pressure of playing at the highest level of the game, having been introduced to the "sport of kings" by his father Terry.

Owen set up Manor House Stables in May 2007 with trainer Tom Dascombe and businessman Andrew Black. Situated between Liverpool and Manchester in northwest England, the 170-acre operation houses 90 horses co-owned by up to 250 investors.

Michael Owen's career

Liverpool (1996-2004): 297 games, 158 goals

Real Madrid (2004-05): 40 games, 14 goals

Newcastle (2005-09): 79 games, 30 goals

Man Utd (2009-12): 52 games, 17 goals

Stoke (2012-13) 7 games, one goal

England (1998-2008): 89 caps, 40 goals

While the pace may have gone from his own legs, Owen's horses continue to prosper, with 81 winners last season and over 60 this time around.

As an elite footballer he was very well paid, but he is very conscious that his stables are well run financially even if it is a hobby.

"It's a business that takes a lot of money to run," he says.

"You don't want to continue to not be in profit or at least break even, so the business is in a healthy position now.

"I don't want to have to plow money into it every year, which is why it's important that it's run correctly.

"Aside from that, it's purely a hobby and if it gives me a lot of enjoyment then that's exactly what it was built to be."

Owen's own horse, Brown Panther, has enjoyed success in England and finished eighth at Australia's Melbourne Cup in November 2013.

He shot to fame in 2011 by winning the King George V Stakes at Ascot -- a result which left Owen with tears of joy streaming down his face.

While he does not profess to be a trainer, and is happy to leave such work to his 40-strong stables staff, Owen does believe his experience of playing elite sport can be translated into the horse world.